314 APPENDIX Blunt v. Hanna, & Blunt v. Martin. {Not reported:) Kev.stat. In THE YEAR 1846, Assistant Yice-Chancellor Sand-Tante. '^' ford held, that assignments of mortgages by a banking association, under the general banking law, were not valid in law, because not authorized by a previous resolution of the Board of Directors; that such previous resolution was, by statute (1 R. S., 591, § 8), as necessary a part of the authority of such banking association to execute the transfers, as was the general bank act itself, which brought the association into existence. See Gillet y. Moody {^ Comst., 479); Hoyt v. Thompson (1 Selden, 320), and Tal¬ mage V. Pell (3 Selden, 328); Johnson Y.^ush (3 Barb. Ch. R., 179); Bosanquet Pub. Officer v. Shortridge (4 W. H. & Or., 699). See opinion of Assistant Vice-Chancellor Sandford, in the above cases, in Note 4, «. 7 ante / also, opinion of Gardiner, C.J.,in Gillet v. Phillips, decided by the Court of Appeals in October, 1855. Leavitt v. Yates. (4 Fdm. Oh. B., 134-209.) 800 post- In September, 1846, this case was heard and determ-cmed'bytheiiisd upou pleadings and ^voois, hjVice-Chancellor Mc-Yates trust Coun. A banking association issued in December, 1840,asBignmen g^^ promissory notes, all of the same date, payable thirteen months after date (with interest) to the order of a clerk in the employ of the association, and at the same time, executed a trust deed conveying to trustees corporate effects to secure the payment of said notes, said deed and notes bearing the same date. The Vice-Chancellor held, that the 800 notes were within the prohibitions of the Eestrata- Bestroining Act, as well as of the Act of May 14th, 1840,ins Act of aii(j -^ere illegal and void ; and also that they were void,of May 14th bccause uot couutersigued by the Comptroller or secured¦'^*''' as required by the general banking law; and that the notes being illegal and void, the trust deed made to secure them was also void. This case is generally known as the " Yates Trust Case." No appeal was ever prosecuted from the decree made by the Vice- Chancellor. See form of notes in this case, p. 119 ante.